County’s gas tax revenue continues downward trend

Gas tax revenue that Phelps County received in November so far through its County Aid Road Trust (CART) fund distributions is down compared to the same month last year.

In fact, gas tax revenues to the county have decreased for the last several months compared to those same months in 2011.

However, tax distributions to the county received in November so far from the motor vehicle sales tax and motor vehicle fees is up compared the same time in 2011.

Phelps County Treasurer Carol Green presented a financial report showing CART funds received to the Phelps County Commission at its Thursday morning meeting.

The county receives distributions from three tax funds administrated by the state — gas, motor vehicle sales and motor vehicle fees.

The amounts received in November are from a previous month’s collection in each of the three tax funds.

Gas tax revenue received in November 2012 so far, which amounted to $49,149.04, was down compared to the amount received in November of last year, which was $51,098.55, a negative difference of about 3.82 percent.

Motor vehicle sales tax revenue increased to $11,331.11 in November of this year from $8,455.28 in November 2011, a positive difference of about 34.01 percent.

Revenue from motor vehicle fees went up to $7,290.09 received in November 2012 from $5,916.95 received in November of last year, a positive difference of approximately 23.21 percent.

Year to date, the county has received a total of $566,215.74 in gas tax revenue, $119,395.01 in motor vehicle sales tax revenue and $81,641.41 in motor vehicle fees revenue.